Article original title ‘Burning Out Midsized Companies’ published by Business News Brisbane 6 May 2015
Burnout has been singled out as the major threat to Australia’s mid-sized business leaders, with investment in mental health policies rather than salaries being key to counteracting this.
Leaders spread too thin, over-competitive environments and technological advances have been highlighted out as driving this sector – which employs almost a quarter of all working Australians – towards burnout in Bankwest’s Future of Business Leadership Report.
The report canvassed more than 500 CEOs, CFOs and CIOs of mid-sized business with turnovers of $5 million to $250 million across various industries.
These business leaders largely reported they were facing burnout, and less than half (49.4 per cent) ticked the box of having good work-life balance.
Bankwest executive general manager of business banking Sinead Taylor says the current business environment is likely one that has never been experienced before.
“I believe many leaders are grappling with a market and competitive environment they have never experienced before and that can put enormous pressure on them,” she says.
Taylor says burnout has a network effect that can’t be ignored.
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